EUR/USD: Signs of recovery in China could provide the Euro with some support – ING
Economists at ING believe that some kind of recovery in China could lift the Euro. Can China come to the…
Economists at ING believe that some kind of recovery in China could lift the Euro.
Can China come to the Euro’s rescue?
“We think EUR/USD is relatively cheap given the massive reversal in energy prices over the last year and that, in time, the 1.05/1.07 area will come to be seen as a summer base. Helping that proposition would be some kind of recovery in China.”
“Official May Chinese PMI figures are released later this week. A bounceback here, helping to reverse the recent run-up in USD/CNH, could provide the Euro with some support.”
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